Business development managers at Chinese state-owned firms have been put on notice: mess up on M&A deals and you can be held personally liable – for life. Under new rules unveiled by China’s State Council, or cabinet, last month, managers …
Tokio Marine Holdings Inc, is in exclusive talks to buy RHB Bank’s general insurance unit in a deal that also includes an agreement to distribute the Japanese insurer’s products through the Malaysian lender, people familiar with the matter told Reuters. …
For investors and bankers wanting to know more about who’s behind Anbang Insurance Group, China’s second-largest life insurer, plans for a Hong Kong IPO next year should provide some answers. Anbang’s relentless pursuit of overseas deals, rapid financing and opaque …
American International Group is offering for sale about $1.2 billion worth of shares in China’s PICC Property and Casualty Co. Ltd. (PICC P&C) in a block deal, IFR said on Saturday, citing a term sheet of the deal. AIG’s stake …
Europe’s largest insurer Allianz has put its South Korean life insurance business on the block as part of a global overhaul in a tough low-interest rate environment, sources with direct knowledge of the matter said. The South Korean asset is …
Zurich Insurance is exploring a sale of its Hong Kong and Singapore operations as it reviews its non-core businesses outside Europe, sources familiar with the matter said. The Swiss insurer has discussed the plan with several investment banks but has …
Fosun International said on Friday its Chairman Guo Guangchang, one of China’s best-known entrepreneurs, is assisting authorities with an investigation, after an earlier report said the group lost contact with its billionaire founder. Guo, the self-styled student of investor Warren …
A $1.2 billion share sale by Fosun International Ltd. this month was likely only the start of a love affair with equity deals, bankers say, as the Chinese conglomerate seeks to cut reliance on debt to fund its huge acquisition …
Hong Kong businessman Richard Li, the youngest son of Asia’s richest man, will appoint a former top executive at AIA Group Ltd as the CEO of his new insurance company, according to people with direct knowledge of the move. Li …
The mystery lender behind a Thai billionaire’s $9.4 billion purchase of a stake in China’s No.2 insurer was UBS, which offered the region’s fourth largest bridge loan ever and a complex financing package known to only a few involved, people …
